Former Mecca Bingo, 42 Holmeside, Sunderland, Tyne & Wear

Description

The property comprises a substantial freehold former Art Deco cinema and more recently former Bingo Hall and ancillary buildings. The property comprises approximately 3,602.10 sq m (38,773 sq ft) on a site of approximately 0.78 acres.

Accommodation

Arranged over ground floor and upper viewing circle. Comprises approximately 3,602.10 sq m (38,773 sq ft). Site area comprises approximately 0.78 acres.

Location

The property is prominently situated on Holmeside in Sunderland city centre, within walking distance of The Bridges Shopping Centre and the city's principal retail and leisure amenities. Sunderland Railway and Metro Station is located nearby, providing excellent transport connections. The surrounding area comprises a mixture of retail, leisure, office and residential uses.

Tenure / Property Information

Investment Analysis

The property is a substantial 38,773 sq ft former cinema and bingo hall on approximately 0.78 acres in Sunderland city centre. The £140,000 guide equates to approximately £3.61 per sq ft before the unspecified buyer fee and any VAT, but no completed sales, rental evidence, planning information, condition report or alternative-use appraisal has been supplied. A defensible GDV, refurbishment budget, rent or maximum bid cannot therefore be established.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence. Treat only as a specialist commercial or redevelopment opportunity after confirming condition, planning/use potential, building compliance, costs and exit value.

Works Required

No specific defects or required works are evidenced. A condition survey and specialist assessment would be required before quantifying works, including the suitability of the existing building for any continued or alternative use.

Rental & Market Context

Potential BRRR Position

BRRR cannot be assessed reliably. There is no supported GDV, refurbishment budget, rental evidence or planning/use information. The unspecified buyer fee and possible VAT also prevent a complete project-cost calculation.

Buy-to-Let Analysis

BTL cannot be assessed. No sufficiently specific rental comparables or auctioneer rent estimate are provided, and the property is a large former leisure building rather than evidenced residential accommodation. No rent, operating costs or conversion assumptions should be inferred.

Flip Analysis

A flip appraisal cannot be completed because no supported resale GDV, alternative-use evidence, works budget or selling-cost allowance is available. The low guide price relative to the building size is not sufficient evidence of profit potential.

Investor Risks & Due Diligence

• Substantial former cinema and bingo hall with no condition or building-services evidence supplied.

• No rental evidence or passing income is available.

• Planning, lawful use and alternative-use potential are not evidenced.

• Buyer fee is unspecified and VAT may apply; other seller charges may also apply under the Special Conditions of Sale.

• No supported GDV, refurbishment budget or resale evidence is available.

• The scale and specialist nature of the building may make exit and funding assessment difficult.

Recommendation

Do not bid on the current evidence. Treat only as a specialist commercial or redevelopment opportunity after confirming condition, planning/use potential, building compliance, costs and exit value.

Strategy Rating

Analysis Confidence

Basic size, location, tenure, vacant status and guide price are supplied, but there are no comparable sales, rent evidence, condition details, planning information, EPC, buyer-fee amount or quantified works.